**REGISTERED COMPANY NUMBER: 04475291 REGISTERED CHARITY NUMBER: 1155468** 


**Report of the Trustees and Financial Statements for the Year Ended 31 March 2022 for The Colebridge Trust Ltd** 





**The Colebridge Trust Ltd** 


## **Contents of the Financial Statements for the Year Ended 31 March 2022** 

||**Page**|
|---|---|
|**Foreword by the Chair**|1 to  2|
|**Report of the Trustees**|3 to  11|
|**Report of the Independent Auditors**|12 to  14|
|**Consolidated Statement of Financial Activities**|15|
|**Balance Sheets**|16|
|**Cash Flow Statement**|17|
|**Notes to the Cash Flow Statement**|18|
|**Notes to the Financial Statements**|19 to  30|





## **The Colebridge Trust Ltd** 

## **Foreword by the Chair, Phil Mayhew for the Year Ended 31 March 2022** 


On behalf of the Board of Trustees I would like to introduce this report, covering the period from Aril 2021 to March 2022. 

Last year I reflected how we were in the midst of the COVID-19 pandemic. Many of the effects of the virus have continued to both impact and steer our work.  However, we have also moved forward and continued to develop both our charitable and social enterprise activities. 

The board would like to say a huge thank you to the team of staff and volunteers.  Once again, the board is immensely proud of what has been achieved in difficult circumstances and limited resources.  However, we do have a very willing and able team and we have been able to support hundreds more local people and several community partners through our efforts. 

This is actually our 20[th] year of operation and as a result we are strongly embedded in Solihull.  Over the time that I have known the trust, we have continued to adapt and change to the needs of local people and based upon feedback from partners and our experienced staff. Although already recognised as Solihull’s community development trust by Locality, it was nice to be referred to as a “vital community anchor” by Solihull Council. Indeed, we have been vital to the local COVID response, including supporting more local people to get vaccinated. 

This year, I would like to celebrate the trustees who are vital in helping to govern the organisation and act as a sounding board for the CEO.  Thank you to the following for giving up your time for something that I know that you are all passionate about. 

As ex-head teachers and education consultants, Dave Dunkley and Deb Wilson have a long history of working with families in Solihull (in particular North Solihull) as well as understanding the wider health and social care system. Lisa Harrison, also has links to schools and also provides valuable insight as a local resident. 

Charles Rapson, Philip Hammond and Warren Albutt have expertise in social enterprise, and helping businesses with their plans for growth. 

Last but not least Jen Timbrell and Andrew Potter bring with them both knowledge of the local area and specialisms in HR and IT. 

Chet Parmar has continued to lead Colebridge as CEO and the work to evolve the trust so that it is able to meet existing and future need. This includes the work that we are increasingly doing within the health and wellbeing space and around supporting families. In addition, a lot of work has gone into modifying technology and introducing a new HR system and CRM system. 

Christine Grace, our accountant, has once again been exceptional in managing our finances and the financial management information that enables the managers to make key decisions. 

Barry Blyth, Enterprises Manager has kept our ISO9001 assembly and packing social enterprise on track to deliver both social outputs and turnout exceptionally high-quality work. Great to see such a diverse group of participants and employees demonstrating that inclusive workplaces are both happy places to be and very productive. 

Wago continue to be a key partner for our enterprise work, therefore it seems appropriate to thank their UK Managing Director, Richard Beighton and his management team once again for showing faith in our work. 

Gemma Ashington has stepped up brilliantly to the newly created post of Community Projects Manager, with a great amount of passion and energy. Thanks to Gemma and the team, we have made huge strides helping people to be physically active, mentoring young people and creating a team of volunteers from within the community. 

Page 1 



## **The Colebridge Trust Ltd** 

## **Foreword by the Chair, Phil Mayhew for the Year Ended 31 March 2022** 


The Family Hub is a vital partnership between Colebridge Trust and Yorkswood School. Working together with other service providers, we are able to offer families a range of enrichment opportunities.  This includes empowering parents to start their own activities and support each other through them. 

Serena Sale, the Employment and Skills Manager has worked tirelessly with the employment and skills team to deliver upon projects for the West Midlands Combined Authority, Solihull College, HS2 and ESF (European Social Fund) projects in partnership with Solihull Metropolitan Borough Council. We have maintained our approach to work with all ages and abilities, something that we are able to do with our health and wellbeing approach. 

Once more we have been retained as the Cars Area Big Local, where we are acting as the Local Trusted organisation. This is a key legacy of our community infrastructure work and a hugely important project for Smiths Wood. Judy Tullett continues to do an important job as Project Manager, providing safe hands through her many years of community development experience. 

Solihull Metropolitan Borough Council (SMBC), West Midlands Combined Authority and Solihull College are key strategic partners and share our passion to strengthen and develop the local community and improve the lives of local people. There has been very close working with the Active Wellbeing Society and Think Active to improve health and well being in the borough too. 

Charity, Around Again operates in tandem with Colebridge Trust, getting food and other essentials to people who need it most. The work also includes family budget advice and help to enhance shopping and cooking skills. Our thanks to award winning chef Tom Shepherd, who worked on suitable recipe cards for our slow cooker giveaway project.  I am pleased to say that a decision in principle has been agreed to link the two charities together and will be presented to members at next year’s AGM. 

At the 2021 / 2022 annual general meeting (AGM) members agreed to changes that would enable us to work in surrounding areas of Solihull, in recognition of boundaries not being recognised by those who present to us in need of support. This was amongst a few other changes to help us to improve the operation and governance. 

The discussion of the redevelopment of Junction continues and we continue to hold a high ambition for a new community facility within North Solihull.  The community garden is an important asset, used by many individuals and groups.  Plans are in place for food growing to support the aforementioned Around Again initiative. 

Colebridge Trust has finished the year in a significantly stronger position than we started. These accounts do show a surplus, which will absolutely be reinvested in our capacity to deliver even more effective support and sustain our essential activities. The board are mindful of both rising costs and the Charity Commission’s guidance to maintain a healthy reserve position. 

So once again, a big thank you to our staff, volunteers, my fellow trustees and partners. Despite the odds, we have kept things going and enabled Colebridge Trust to move forwards for the sake of its beneficiaries. 

Phil Mayhew 


Chair of Trustees – Colebridge Trust 

Page 2 



## **The Colebridge Trust Ltd** 

## **Report of the Trustees for the Year Ended 31 March 2022** 


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

Our charity's purposes are as set out in the objects contained in the company's governing documents and are:. 

A, The promotion for the benefit of the public of urban regeneration in areas of social and economic deprivation in Solihull by all or any of the following means: 

- I the relief of unemployment: 

- II the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience: 

- III the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need Through help: (i) in setting up their own business, or (ii) to existing businesses: 

- IV the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities: 

- V the provision of public health facilities: 

- VI such other means as may from time to time be determined subject to the prior written consent of the Charity Commission for England and Wales. 

B. To promote the voluntary sector for the public benefit in Solihull by building the capacity of voluntary sector organisations and providing them with the necessary support, information and services to enable them to pursue or contribute to any charitable purpose. 

C. Such other purposes as are exclusively charitable in accordance with the laws of England and Wales as the trustees may from time to time determine, 

## **Public benefit** 

The trustees consider that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. 

Page 3 



## **The Colebridge Trust Ltd** 

## **Report of the Trustees for the Year Ended 31 March 2022** 


## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

Our primary charitable activities during the year were the: - 

- provision of employment and skills related activities for people often deemed furthest away from the employment.  Delivery of specialist projects for young people; those with additional needs; mental health conditions; long-term physical health conditions; poor educational attainment; carers responsibilities and lack of work experience. 

- provision of youth support including mentoring, physical health support; and mental health support. 

- provision of support in relation to the relief of the effects of deprivation, including initiatives around food, inclusion, wellbeing and advocacy. 

- the promotion of services to add capacity to the third sector through support services including continuing to act as the local trusted organisation for the Big Local project in the Cars Estate of Smiths Wood; accountancy services for the third sector; fundraising support; strategic advice; and back-office support. 

- strategic and operational support of Around Again Charity. 

- coordination and delivery of support relating to the emerging Covid-19 needs including access to food; wellbeing; and physical health. 

- promotion and delivery of partner health and wellbeing initiatives, with partners such as Solihull Council, The Active Wellbeing Society and Think Active. Creation and management of the Solihull Community Network. 

- the delivery of high-quality assembly and packing services which facilitate vital work experience and inclusion opportunities; and 

- operation of community facilities to enhance the lives of local people and facilitate vital health and wellbeing opportunities.  This includes Junction, our community centre and community gardens. 

The majority of work was delivered within the Metropolitan Borough of Solihull for the benefit of its residents; or people that have strong links to the area.  Our other major beneficiary group were organisations that also support the local area or who carry out charitable work in the surrounding area. 

We delivered outcomes that helped people into work or further training; improved the health and / or wellbeing of individuals; empowered people to overcome poverty related issues; helped organisations to sustain their charitable activities; and helped people throughout the Covid-19 pandemic. 

In addition to income generated directly, our work has been substantially supported by service level agreements with West Midlands Combined Authority, Solihull Council (European Social Fund) Solihull College and HS2. Furthermore, we received restricted grant funding through the Big Local Fund, which is administered by Local Trust for the Big Lottery Fund. The Directors are pleased to acknowledge their appreciation of this support from funders and strategic partners 

This year, core costs have been offset by the increase in the delivery of our employment and skills services, including European Union funded work and a payment by results contract with the West Midlands Combined Authority. Our collaborative working can be demonstrated through the partnership with Solihull Moors and Northern Star Arts, delivering upon the on Steps to the Real Me project. Young people with additional needs are supported via interventions for physical fitness and mental health.   Participants are also supported with careers advice, work experience and employment support.  We have also continued to develop our partnership with Around Again Charity to provide a comprehensive support offer to those who are facing the effects of poverty, this includes food parcels during Covid and the distribution of slow cookers and ingredients to empower people to cook. 

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## **The Colebridge Trust Ltd** 

## **Report of the Trustees for the Year Ended 31 March 2022** 


## **HIGHLIGHTS AND IMPACT** 

## **Social Enterprise – Employment, Training & Inclusion** 

_"WAGO UK & Ireland are lucky to have you as a partner”_ 

## **Richard Beighton, UK Managing Director, Wago UK & Ireland** 

The Trust has continued to support learning disabled adults and other groups of long-term unemployed by providing experience of assembly and packing work (at Unit 21) secured by our trading subsidiary. Key achievements in the year have been: 

- Awarded “Manufacturing Hero” by Made in the Midlands. 

- Managing up to 600 hours production per week. 

- Getting back on-track to deliver in excess of 1,500 of supported employment and inclusion activities each month to our beneficiaries. 

- Working in partnership with Solihull College to support interns with learning difficulties and other additional needs. 

- Continuation of support to local special schools 

- Securing new customers in industries outside of automotive. 

- Transition of service users / participants to mainstream employment. 

- Improvement of the physical environment within the unit. 

_“Very proud to have had the opportunity to transition Colebridge Enterprises from a grant dependant provision for adults with learning disabilities to a fully blown Social Enterprise. And hugely impressed by how you have built on it and moved it forward to double the size and impact”._ 

**Charles Rapson, Former Managing Director, Colebridge Enterprise and current Director of School of Social Entrepreneurs - Midlands** 

## **Community Projects** 

_"Having graduated as a mature student, I was keen to find a suitable role that would allow me to apply what I had learned about, regularly challenge me and have a strong social purpose attached to it.  After successfully delivering a project to help community groups to become more inclusive, I was interviewed for and accepted the Community Projects Manager role.  I have been supported to develop as a manager and to grow our community offer. As a local person that has faced many of the challenges that our service users face, I am determined to use my skills and experience to to make a difference”._ 

**Gemma Ashington - Community Projects Manager** 

- Creation and delivery of the Solihull Community Network to increase knowledge of health and wellbeing opportunities within Solihull. 

- Collaboration with local partners to deliver wellbeing trails across the borough and encourage their use. 

- 

   - Awareness of COVID prevention and encouraging over 200 people to get vaccinated. 

- Successful delivery of a programme to improve the diversity and inclusion opportunities delivered by third parties. 

- Securing Commonwealth Games linked young person’s mentoring project to support young people in Birmingham and Solihull. 

- 

   - Delivering support to young families through activities at Family Hub and Junction. 

- Exceeded outcome targets for the European Social Fund, Employed for Success programme helping over 100 people with health conditions and other barriers into employment and training. 

- Successfully supporting the “food network” and distribution of food to families in need, including schools’ breakfasts clubs. 

- 

   - Improving the physical environment by developing the Junction Garden with support from partners. 

- Developing projects and programmes to support young people and younger adults with additional needs. 

- 

- 

- Delivery of health and wellbeing activities for over 50’s. 

- Creating the “Happy Streets” network to support with social prescribing. 

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## **The Colebridge Trust Ltd** 

## **Report of the Trustees for the Year Ended 31 March 2022** 


## **Junction - Community Centre** 

- The centre continues to be well utilised and delivers a range of activities for local people to access across the whole week. These include a large proportion of external bookings, including dance, fitness and adult education. 

- The centre is also home to Around Again, a food pantry project to support people tackle food poverty and improve health and wellbeing, operated in partnership with another local charity. 

- The centre has facilitated the immunisation of the local community against Covid-19 

- We continue to offer a drop-in job club with access to laptops to support digital inclusion and job searching. 


- We have a good number of volunteers supporting the running of the centre, Around Again and community garden, including groups from the NHS and Princes Trust. 

- The centre has developed a parent group with a play and stay becoming a regular offer. 

- Our wellbeing drop-ins are hugely popular and benefitted many socially isolated residents. 

- Our impactful loss and bereavement workshops have been replicated elsewhere, locally. 

- Through our interaction with residents within the centre we have been able to make important safeguarding referrals as well as help people to connect to connect to specialist organisations for interventions. 

- Supporting local community members to develop activities, such as stay and play. 

## **Employment and Skills - Support and Advisory Projects** 

_" The help and benefits that Jacques has had mean a great deal to me as it is hard to think how to help my son as he is autistic. I think that there are many people in the community that would benefit and be grateful for the service provided”._ 

## **Mother of young person aged 19 with additional needs.** 

- Runner up in “Transforming Lives” category at national Locality awards. 

- Securing the delivery of a new Commonwealth Games linked project to support young people in Birmingham and Solihull. 

- Achieving positive results on the health and wellbeing focussed “Building Healthy Futures” programme. 

- • Performing well on the West Midlands Combined Authority, Connecting Communities Project, helping over 100 people into employment and many more into training (both in-work and out of work). 

- Exceeded outcome targets for the European Social Fund, Employed for Success programme helping over 100 people with health conditions and other barriers into employment and training. 

- Enabled over 1000 people across ages and abilities to access employment and skills related support, addressing multiple barriers including mental health, physical health, digital skills and personal finances. 

- Growth in the delivery of wellbeing interventions for the unemployed. 

- Delivering digital inclusion training to over 100 people. 

- Achieving 100% of the outcomes on Skills for Jobs in partnership with Solihull College. 

- Supporting young people with additional needs with inclusion and employment. 

## **Collaborative Working – Big Local** 

The Colebridge Trust has continued to act as the Local Trusted Organisation to support the resident led committee and hold the funds for this project. Working alongside the local resident-led Partnership, the key achievement has been the ongoing support of people in Smiths Wood, during the height of the pandemic and post-Covid19. 

The street connectors co work tirelessly to respond to the emerging need, identifying those who may not be able to access support and ensuring that the community are accurately represented. 

Over the years many new activities have been brought into the area and the team are looking forward to fulfilling their promise to save a vital green space in the area, so that it can be enjoyed by future generations. 

## **Fundraising activities** 

The charity does not carry out significant fundraising. 

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## **The Colebridge Trust Ltd** 

## **Report of the Trustees for the Year Ended 31 March 2022** 


## **FINANCIAL REVIEW** 

## **Financial overview** 

The consolidated results for the year and the financial position of the company are shown in the financial statements annexed to this report. In the financial year to 31 March 2022 the charity made a surplus of £35,866 **,** increasing reserves to £466,649. Consolidating the results of the trading subsidiary, the group made a surplus of £126,663.  This will enable the group to sustain current projects once current funding streams end and further funding is sought. 

Charity turnover increased by £92,520 compared with the previous year. This is the result of an increase in grants to support activities.  It also includes a grant from the subsidiary company Colebridge Enterprises. The Trustees consider this to be a very positive outturn given the   challenging conditions this year. 

Sources of charity income included a total of £783,675 from grants of which £182,576 was restricted income from the Big Local Trust, the Big Lottery and other local trusts. 

## **Reserves policy** 

The charity's consolidated free reserves at 31 March 2022 are £500,260. The unrestricted funds, except those invested in tangible fixed assets, are the free reserves of the charity. There are restricted funds, from the Big Local Trust and the Big Lottery, included in the total reserves at 31st March 2022. 

The board aspires to sustain free reserves above a level of three months running costs and this is currently the position. This policy will be reviewed in the next financial year. 

## **Going concern** 

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 

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## **The Colebridge Trust Ltd** 

## **Report of the Trustees for the Year Ended 31 March 2022** 


## **FUTURE PLANS** 

The priorities for the 2022/23 operating year will be: 

- Further increase the community offer, including Family Hub and Junction; 

- to further develop, through growth, the position of our Employment and Skills Team as the leading community-based provider of employability support in Solihull; 

- to continue developing our employment readiness programme for learning disabled and other long-term disadvantaged job seekers at the Colebridge Enterprises manufacturing assembly and packaging unit. This includes the further development of our care support services and social inclusion activities; 

- to further develop support for disadvantaged people in the North Solihull area and, with partner charities, grow its activities and benefit to the local community through referral processes to be established. 

- to build upon the work of the feasibility study for development of the site occupied by the Junction community centre and leased from Solihull Council to create a more holistic and sustainable centre from which a wider cross-section of the public can be served with more far-reaching outcomes. 

- to continue to support the resident led Big Local Cars Area Together committee to secure the long-term legacy opportunities from the Big Local programme for the area within the latest stage of developing their project. 

- to implement agreed changes to trust objectives and offer, including the development of enterprising services. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document and constitution** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

The organisation is a charitable company limited by guarantee incorporated on 7 February 2002 and registered as a charity on 24 January 2014. It was established under a Memorandum of Association, the objects of which were amended by the Annual General Meeting on 4 November 2013 prior to application for registration as a charity. It is governed under its Articles of Association. 

## **Organisational structure** 

The directors of the company are also charity trustees for the purposes of charity law and form the Board of the company. Under the Articles of Association, half of the members of the Board will stand down each year at the AGM. Each Trustee/Director gives their time voluntarily and receives no benefit from the charity. New Trustee/Directors are subject to an induction programme and training in the responsibilities of the role is available to those who have not previously had experience of such a role and relevant training. 

The Board delegate day to day responsibility for the operation of the company to the Chief Executive Officer, Mr C Parmar, and a Scheme of Delegation is in place. Any risks to which the charity is exposed are identified through regular review and assessed before consideration and determination of management action through the Board. The charity is not presently subject to any major risks requiring disclosure. 

## **Key management remuneration** 

The board of directors, who are the Trust's trustees, and the senior management team comprise the key management personnel of the charity, in charge of directing and controlling, running and operating the Trust on a day-to-day basis. All directors give of their time freely and no director received remuneration in the year. 

The pay of the senior staff is usually reviewed annually and normally increased in accordance with average earnings. Due to the uncertainties arising from Covid it was not possible to do this during 2020 / 2021. Our usual process is for directors benchmark against pay levels in other charities in the West Midlands region of a similar size.  This also considers opportunities to work on a voluntary basis. Thereafter, roles are advertised at the target rate suggested by these benchmarks and after that the market prevails. 

The CEO is jointly employed with Yorkswood School and his terms and conditions fall under an agreement with Solihull Metropolitan Borough Council. The pay is below comparable benchmarked charity CEO rates, however on a par when benefits are taken into consideration. 

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## **The Colebridge Trust Ltd** 

## **Report of the Trustees for the Year Ended 31 March 2022** 


## **Risk management** 

The trustees have examined the major strategic, business and operational risk's which the  charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen those risks 

- Covid related risks continue to be mitigated against through a range of measures and by following the guidance of statutory organisations and third sector membership bodies. 

- Board meetings continue to be managed using video-calling with minutes and other important documents being delivered via email. 

- The trust will continue to seek new customers and generate income to meet the adult social care need via the activities at the assembly and packing social enterprise. 

- Employment project funding continues to be reviewed and changes to funding pose an on-going risk to the trust. Business development will be a priority within this area.  And we continue to ensure that performance standards are met. 

- The lease for the land occupied by the premises at Junction expired at 31 March 2018 and the local authority has confirmed that we have protected rights. The local MP, council leader and senior officers have visited the site and we have received positive feedback.  We are now in discussions with Solihull Metropolitan Borough to consider alternative sites and bring forward an ambition on behalf of the local community. It should be noted that our ability to support local people as an anchor organisation has been largely facilitated through the community asset in Fordbridge (bordering Chelmsley Wood). 

- Management of the trust has been with Chet Parmar for the last 3 years and we continue to build a capable management team to support the CEO and trustees / directors. 

- The trust are actively looking for areas to invest in that will bring about long-term positive impacts and change.  This may include the need to consider social finance and additional resources to support bid writing and grant applications. 

- The trust continues to be a member of Locality and regularly seeks the advice and guidance of specialist organisations.  As an example the use of Roots HR C.I.C – a specialist human resources advice provider. 

- • The trust will implement new HR policies in 2022 / 2023 and at the same time measures to improve safeguarding knowledge have been implemented. 

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## **The Colebridge Trust Ltd** 

## **Report of the Trustees for the Year Ended 31 March 2022** 


## **Registered Company number** 

04475291 (England and Wales) 

**Registered Charity number** 1155468 

## **Registered office** 

Junction 100 Chapelhouse Road Chelmsley Wood B37 5HA 

## **Trustees** 

P N Mayhew - Chair D A Dunkley – Vice Chair W J Albutt P J Hammonds C Rapson D Wilson A S Potter L Harrison J Timbrell 

## **Company Secretary** 

C Parmar 

## **Auditors** 

Locke Williams Associates LLP Chartered Accountants Registered Auditors Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL 

## **Bankers** 

The Co-operative Bank PLC PO Box 101 1 Balloon Street Manchester B91 3RG 

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## **The Colebridge Trust Ltd** 

## **Report of the Trustees for the Year Ended 31 March 2022** 


## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees (who are also the directors of The Colebridge Trust Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## **AUDITORS** 

The auditors,  Locke Williams Associates LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

Approved by order of the board of trustees on 13 December 2022 and signed on its behalf by: 


P N Mayhew - Trustee 

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## **Report of the Independent Auditors to the Members of The Colebridge Trust Ltd** 

## **Opinion** 

We have audited the financial statements of The Colebridge Trust Ltd (the parent 'charitable company') and its subsidiary (the ‘group’) for the year ended 31 March 2022 which comprise the consolidated Statement of Financial Activities, the consolidated and parent company Balance Sheet, the consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 March 2022 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

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## **Report of the Independent Auditors to the Members of The Colebridge Trust Ltd** 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

Page 13 




## **Report of the Independent Auditors to the Members of The Colebridge Trust Ltd** 

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of third parties where appropriate. 

There are inherent limitations in the audit procedures described above and, the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. 

As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and checking the authorisation of expenditure as part of our substantive testing, using analytical review to identify any significant or unusual transactions and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

David Williams (Senior Statutory Auditor) for and on behalf of Locke Williams Associates LLP Chartered Accountants Registered Auditors c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL 

15 December 2022 

Page 14 



## **The Colebridge Trust Ltd** 

## **Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2022** 


|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>**Charitable activities**<br>Charitable activities<br> 4<br>Other trading activities<br>3<br>**Total**<br>**EXPENDITURE ON**<br>Raising funds<br>5<br>**Charitable activities**<br>Charitable activities<br> 6<br>**Total**<br>**NET INCOME/(EXPENDITURE)**<br>**Transfers between funds**<br>16<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted<br>funds<br>£<br>**773**<br>**601,099**<br>**345,947**<br>**947,819**<br>**25,687**<br>**754,777**<br>**780,464**<br>**167,355**<br>**432 **<br>**167,787**<br>**332,473**<br>**500,260**|Restricted<br>funds<br>£<br>**-**<br>**182,576**<br>**-**<br>**182,576**<br>**-**<br>**223,268**<br>**223,268**<br>**(40,692)**<br>**(432)**<br>**(41,124)**<br>**122,270**<br>**81,146**|**31.3.22**<br>**Total**<br>**funds**<br>**£**<br>**773**<br>**783,675**<br>**345,947**<br>**1,130,395**<br>**25,687**<br>**978,045**<br>**1,003,732**<br>**126,663**<br>**-**<br>**126,663**<br>**454,743**<br>**581,406**|31.3.21<br>Total<br>funds<br>£<br>2,266<br>678,574<br>280,758|
|---|---|---|---|---|
|||||961,598<br>31,464<br>764,964|
|||||796,428|
|||||165,170<br>-|
|||||165,170<br>289,573|
|||||454,743|



The notes form part of these financial statements 

Page 15 



## **The Colebridge Trust Ltd (Registered number: 04475291)** 

## **Balance Sheets 31 March 2022** 


|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>11<br>**CURRENT ASSETS**<br>Debtors<br>13<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>14<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>16<br>Unrestricted funds<br>Restricted funds|**Group**<br>**31.3.22**<br>**£**<br>**9,245**<br>**185,108**<br>**505,779**<br>**690,887**<br>**(118,726)**<br>**572,161 **<br>**581,406**<br>**581,406**<br>**500,260**<br>**81,146**<br>**581,406**|31.3.21<br>**£**<br>-<br>137,076<br>448,599<br>585,675<br>(130,932)<br>454,743<br>454,743<br>454,743<br>332,473<br>122,270<br>454,743|**Charity**<br>**31.3.22**<br>**£**<br>**-**<br>**355,852**<br>**224,462 **<br>**580,314**<br>**(113,665)**<br>**466,649**<br>**466,649**<br>**466,649**<br>**385,503**<br>**81,146**<br>**466,649**|31.3.21<br>£<br>-<br>315,071<br>243,058<br>558,129<br>(127,346)<br>430,783<br>430,783<br>430,783<br>308,513<br>122,270<br>430,783|
|---|---|---|---|---|



These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on 13 December 2022 and were signed on its behalf by: 


P N Mayhew - Trustee 

The notes form part of these financial statements 

Page 16 



## **The Colebridge Trust Ltd** 

## **Cash Flow Statement** 


|**for the Year Ended 31 March**<br>Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Net cash (used in)/provided by investing activities<br>**Change in cash and cash equivalents**<br>**in the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end**<br>**of the reporting period**|**2022**<br>**31.3.22**<br>**£**<br>**66,425**<br>**66,425**<br>**(9,245)**<br>**(9,245) **<br>**57,180**<br>**448,599**<br>**505,779**|31.3.21<br>£<br>188,912<br>188,912<br>-<br>-<br>188,912<br>259,687<br>448,599|
|---|---|---|



The notes form part of these financial statements 

Page 17 



## **The Colebridge Trust Ltd** 

## **Notes to the Cash Flow Statement for the Year Ended 31 March 2022** 


|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|
|||**31.3.22**|31.3.21|
|||**£**|£|
||**Net income for the reporting period (as per the Statement of**|||
||**Financial Activities)**|**126,663**|165,170|
||**Adjustments for:**|||
||(Increase)/decrease in debtors|**(48,032)**|24,674|
||Decrease in creditors|**(12,206)**|(932)|
||**Net cash provided by operations**|**66,425**|188,912|
|2.|**ANALYSIS OF CHANGES IN NET FUNDS**|||



||At 1.4.21|Cash flow|**At 31.3.22**|
|---|---|---|---|
||£|£|**£**|
|**Net cash**||||
|Cash at bank and in hand|**448,599**|**57,180**|**505,779**|
||**448,599**|**57,180**|**505,779**|
|**Total**|**448,599**|**57,180**|**505,779**|



The notes form part of these financial statements 

Page 18 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements for the Year Ended 31 March 2022** 


## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. 

## **Group financial statements** 

The financial statements consolidate the results of the charity and its wholly owned subsidiary Colebridge Enterprises Ltd on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Trust has taken advantage of the exemption afforded by section 408 of the Companies Act 2006. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. 

Income from trading activities includes income earned from fundraising events. trading activities and recharges of premises costs to tenants. Income is received in exchange for supplying goods and services, in order to raise funds and is recognised when entitlement has occurred. 

Income from grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure is classified under the following activity headings: 

- Costs of raising funds comprise the costs of commercial trading including those of the wholly owned trading subsidiary. 

- Expenditure on charitable activities includes the direct costs of activities undertaken to further the purposes of the charity, including grants payable and all associated support costs. 

Irrecoverable VAT is charged as an expense against charitable activities. 

Page 19 



**The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


## **1. ACCOUNTING POLICIES - continued** 

## **Expenditure** 

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. 

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity.  Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. 

## **Tangible fixed assets** 

All tangible fixed assets are fully depreciated. Individual fixed assets costing £1,000 or more are capitalised at cost. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Taxation** 

The Colebridge Trust Ltd meets the definition of charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme.  Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

Page 20 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


## **2. DONATIONS AND LEGACIES - GROUP** 

||**31.3.22**|31.3.21|
|---|---|---|
||**£**|£|
|Donations|**773**|2,266|
||**773**|2,266|
|The wholly owned trading subsidiary Colebridge Enterprises Ltd is incorporated in the United Kingdo|||
|(company number 08506031) and pays all of its profits to|the charity under the Gift Aid scheme.||
|summary of the trading results is shown below.|||
||**31.3.22**|31.3.21|
||**£**|£|
|Turnover|**335,856**|271,838|
|Cost of sales and administration costs|**(245,058) **|(263,095)|
|NET PROFIT|**90,798 **|8,743|
|Amount gift aided to the charity|**23,958 **|53,718|
|Retained in the subsidiary|**90,798 **|8,743|
|The assets and liabilities of the subsidiary were:|||
|Fixed assets|**9,245**|-|
|Current assets|**345,067**|253,943|
|Current liabilities|**(239,556) **|(229,984)|
|Total net assets|**114,756 **|23,959|
|Aggregate share capital and reserves|**114,756 **|23,959|



The wholly owned trading subsidiary Colebridge Enterprises Ltd is incorporated in the United Kingdom (company number 08506031) and pays all of its profits to the charity under the Gift Aid scheme. A summary of the trading results is shown below. 

The company pays over its taxable profits to The Colebridge Trust Ltd by way of a Gift Aid donation. In accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", this will be treated as a distribution of profits and so will be accounted for when paid, not accrued. 

## **3. OTHER TRADING ACTIVITIES - GROUP** 

|Fundraising events<br>Sales<br>Room hire|**31.3.22**<br>**£**<br>**-**<br>**336,010**<br>**9,937 **<br>**345,947**|31.3.21<br>£<br>6,752<br>272,039<br>1,967|
|---|---|---|
|||280,758|



Page 21 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


|**4.**<br>**INCOME FROM CHARITABLE ACTIVITIES - GROUP**<br>Activity<br>Grants<br>Charitable activities<br>Grants received, included in the above, are as follows:<br>Solihull Metropolitan Borough Council<br>Solihull College<br>Community Fund - Big Local<br>Community Fund - 'Steps to the Real Me'<br>The Sobell Foundation<br>West Midlands Combined Authority<br>Kickstart<br>The Michael Marsh Charitable Trust<br>29th May 1961 Charitable Trust<br>The Eveson Charitable Trust<br>The Active Wellbeing Society<br>HS2 Grant<br>Big Local employment support grant<br>Heart of England<br>SMBC Essential Food Grant<br>SMBC Household Support Fund<br>SMBC Wellbeing on the move<br>Birmingham Airport Community Fund<br>The Co operative Society<br>The Grimmitt Trust<br>The Richard Cadbury Charitable Trust<br>William A Cadbury Charitable Trust<br>The W.E.D. Charitable Trust<br>F W Bailey Thomas Grant Charitable Trust<br>The Sheldon Trust<br>Field Family Trust(Assembly)<br>Gostling Foundation<br>Rowlands Trust<br>Archer Trust<br>The Cole Charitable Trust<br>Love Brum<br>Employment and Skills small Grants<br>HMRC Job Retention Scheme<br>SMBC Covid Business Support Grant<br>Awards for All Covid Support<br>The Active Wellbeing Society<br>SMBC – Covid business interruption|**31.3.22**<br>**£**<br>**783,675**<br>**31.3.21**<br>**£**<br>**97,486**<br>**72,000**<br>**83,840**<br>**92,090**<br>**-**<br>**109,274**<br>**247,329**<br>**2,000**<br>**5,000**<br>**5,000**<br>**5,487**<br>**25,762**<br>**9,762**<br>**10,000**<br>**1,500**<br>**1,650**<br>**995**<br>**3,455**<br>**11,045**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**783,675**|31.3.21<br>£<br>678,574<br>31.3.20<br>£<br>70,759<br>72,000<br>106,541<br>91,178<br>10,000<br>143,799<br>-<br>-<br>5,000<br>-<br>-<br>18,402<br>9,762<br>5,000<br>1,000<br>-<br>-<br>-<br>-<br>750<br>500<br>750<br>1,000<br>8,036<br>5,000<br>3,438<br>5,000<br>2,000<br>1,500<br>1,000<br>3,500<br>890<br>51,671<br>10,000<br>9,795<br>30,303<br>10,000<br>678,574|
|---|---|---|



Page 22 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


## **5. RAISING FUNDS - GROUP** 

|**Other trading activities**<br>**31.3.22**<br>**£**<br>Trading cost of goods sold and overheads<br>**25,687 **<br>**CHARITABLE ACTIVITIES COSTS - GROUP**<br>Charitable activities|31.3.21<br>£<br>31,464<br>Direct<br>Costs<br>£<br>**978,045**|
|---|---|



## **6. CHARITABLE ACTIVITIES COSTS - GROUP** 

## **7. NET INCOME/(EXPENDITURE) - GROUP** 

Net income/(expenditure) is stated after charging/(crediting): 

||**31.3.22**|31.3.21|
|---|---|---|
||**£**|£|
|Auditors' remuneration|**2,700**|2,500|
|Auditors' remuneration - subsidiary|**1,650**|1,600|



## **8. TRUSTEES' REMUNERATION AND BENEFITS - GROUP AND CHARITY** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. 

Page 23 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


## **9. STAFF COSTS - GROUP AND CHARITY** 

|Wages and salaries<br>Social security costs<br>Other pension costs|**31.3.22**<br>**£**<br>**532,901**<br>**29,481**<br>**11,123**<br>**573,505**|31.3.21<br>£<br>518,124<br>28,175<br>21,321|
|---|---|---|
|||567,620|



The average monthly number of employees during the year was as follows: 

|<br>Full time<br>Part time|**31.3.22**<br> <br>**14**<br>**23**<br>**37 **|31.3.21<br>10<br>23<br>33|
|---|---|---|



No employees received emoluments in excess of £60,000. 

The total amount of employee benefits received by key management personnel is £105,388 (2021 £77,201. The Trust considers its key management personnel compromise the board of directors, who are the Trust's trustees, and the senior management team. From January 2020 the chief executive officer is not on the payroll of the charity. 

## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - GROUP** 

|Unrestricted<br>funds<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2,266<br>**Charitable activities**<br>Charitable activities<br>443,753<br>Other trading activities<br>280,758<br>**Total**<br>726,777<br>**EXPENDITURE ON**<br>Raising funds<br>31,464<br>**Charitable activities**<br>Charitable activities<br>569,067<br>**Total**<br>600,531|Restricted<br>funds<br>£<br>-<br>234,821<br>-<br>234,821<br>-<br>195,897<br>195,897|Total<br>funds<br>£<br>2,266<br>678,574<br>280,758|
|---|---|---|
|||961,598<br>31,464<br>764,964|
|||796,428|



Page 24 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


|**10.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**|**ACTIVITIES - GROUP - continued**|**ACTIVITIES - GROUP - continued**|**ACTIVITIES - GROUP - continued**|
|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|Total|
|||||||funds|funds|funds|
|||||||£|£|£|
||**NET INCOME**|||||126,246|38,924|165,170|
||**RECONCILIATION OF FUNDS**||||||||
||**Total funds brought forward**|||||206,227|83,346|289,573|
||**TOTAL FUNDS CARRIED FORWARD**|||||332,473|122,270|454,743|
|**11.**|**TANGIBLE FIXED ASSETS - GROUP AND CHARITY**||||||||
|||Improvements||||Fixtures|||
|||to||Plant|and|and|Computer||
|||property||machinery||fittings|equipment|Totals|
|||£||£||£|£|£|
||**COST**||||||||
||At 1 April 2021|**77,766**|||**-**|**14,889**|**2,000**|**94,655**|
||Additions||**-**|**9,245**||**-**|**-**|**9,245**|
||At 31 March 2022|**77,766**||**9,245**||**14,889**|**2,000**|**103,900**|
||**DEPRECIATION**||||||||
||At 1 April 2021 and||||||||
||31 March 2022|**77,766**|||**-**|**14,889**|**2,000**|**94,655**|
||**NET BOOK VALUE**||||||||
||At 31 March 2022||**-**|**9,245**||**-**|**-**|**9,245**|
||At 31 March 2021||-||-|-|-|-|



## **12. FIXED ASSET INVESTMENTS - CHARITY** 

The charity holds the 1 issued £1 Ordinary share in Colebridge Enterprises Limited. This is included in the balance sheet of the charity at nil value. 

Page 25 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade debtors<br>Amounts owed by subsidiary undertaking<br>Social security and other taxes<br>Prepayments and accrued income|**Group**<br>**31.3.22**<br>31.3.21<br>**£**<br>£<br>**110,050**<br>50,089<br>-<br>-<br>**29,250**<br>20,020<br>**45,808**<br>66,967<br>**185,108**<br>137,076|**Charity**<br>**31.3.22**<br>31.3.21<br>**£**<br>£<br>**77,804**<br>22,999<br>**234,496**<br>225,495<br>**-**<br>-<br>**43,552 **<br>66,577<br>**355,852 **<br>315,071|
|---|---|---|



## **14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accruals and deferred income|**Group**<br>**31.3.22**<br>31.3.21<br>**£**<br>£<br>**12,224**<br>21,635<br>**39,180**<br>44,360<br>**11,287**<br>9,955<br>**56,035**<br>54,982<br>**118,726**<br>130,932|**Charity**<br>**31.3.22**<br>31.3.21<br>**£**<br>£<br>**9,262**<br>20,131<br>**39,180**<br>44,360<br>**11,287**<br>9,955<br>**53,936**<br>52,900<br>**113,665**<br>127,346|
|---|---|---|



Income is deferred where it is subject to the performance of certain terms or conditions. Where these have not been met at the balance sheet date, the income is not recognised in the statement of financial activities. 

|Deferred income brought forward<br>Income now released to SoFA<br>Income received in the year and deferred<br>Deferred income carried forward|**31.3.22**<br>**£**<br>**20,833**<br>**(20,833)**<br>**26,652**<br>**26,652**|31.3.21<br>£<br>30,807<br>(30,102)<br>20,128<br>20,833|
|---|---|---|



Page 26 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


|**15.**<br>**ANALYSIS OF NET ASSETS BETWEEN FUNDS - GROUP**<br>Unrestricted<br>Restricted<br>funds<br>funds<br>£<br>£<br>Fixed assets<br>**9,245**<br>**-**<br>Current assets<br>**609,741**<br>**81,146**<br>Current liabilities<br>**(118,726) **<br>**-**<br>**500,260**<br>**81,146**<br>**16.**<br>**MOVEMENT IN FUNDS - GROUP**<br>Net<br>movement<br>At 1.4.21<br>in funds<br>£<br>£<br>**Unrestricted funds**<br>General fund<br>**332,473**<br>**167,355**<br>**Restricted funds**<br>Street Games Project<br>**1,976**<br>**(1,860)**<br>Big Local 6<br>**47,493**<br>**(9,847)**<br>Big Lottery STTRM<br>**49,604**<br>**(16,689)**<br>Big Local General Purpose<br>**7,068**<br>**67**<br>Big Local Winter trails walks<br>**904**<br>**(414)**<br>Big Local SMBC essential grant<br>**348**<br>**1,861**<br>Big Local Wellbeing grant<br>**4,749**<br>**(4,572)**<br>Reach Assembly Business Planning<br>**4,320**<br>**(4,320)**<br>Reach HR Consultancy<br>**1,568**<br>**(1,568)**<br>Reach - Internal management costs<br>**928**<br>**(928)**<br>Reach - Company structure/legal costs<br>**2,880**<br>**(2,880)**<br>Active Wellbeing (stay & play)<br>**432**<br>**-**<br>Big Local Birmingham Airport<br>Community Fund<br>**-**<br>**128**<br>Big Local Think Active<br>**-**<br>**705**<br>Big Local HAF funding<br>**-**<br>**(375) **<br>**122,270**<br>**(40,692)**<br>**TOTAL FUNDS**<br>**454,743**<br>**126,663**|**31.3.22**<br>Total<br>funds<br>**£**<br>**9,245**<br>**690,887**<br>**(118,726) **<br>**581,406**<br>Transfers<br>between<br>funds<br>£<br>**432**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(432)**<br>**-**<br>**-**<br>**-**<br>**(432)**<br>**-**|31.3.21<br>Total<br>funds<br>£<br>-<br>585,675<br>(130,932)<br>454,743<br>At<br>31.3.22<br>£<br>**500,260**<br>**116**<br>**37,646**<br>**32,915**<br>**7,135**<br>**490**<br>**2,209**<br>**177**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**128**<br>**705**<br>**(375) **<br>**81,146**<br>**581,406**|
|---|---|---|



Page 27 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


## **16. MOVEMENT IN FUNDS - GROUP - continued** 

Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Street Games Project<br>Big Local 6<br>Big Lottery STTRM<br>Big Local General Purpose<br>Big Local Winter trails walks<br>Big Local SMBC essential grant<br>Big Local Wellbeing grant<br>Reach Assembly Business Planning<br>Reach HR Consultancy<br>Reach - Internal management costs<br>Reach - Company structure/legal costs<br>Big Local Birmingham Airport<br>Community Fund<br>Big Local Think Active<br>Big Local HAF funding<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>**947,819**<br>**-**<br>**83,839**<br>**92,090**<br>**67**<br>**-**<br>**3,210**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**2,065**<br>**1,305**<br>**-**<br>**182,576**<br>**1,130,395**|Resources<br>expended<br>£<br>**(780,464)**<br>**(1,860)**<br>**(93,686)**<br>**(108,779)**<br>**-**<br>**(414)**<br>**(1,349)**<br>**(4,572)**<br>**(4,320)**<br>**(1,568)**<br>**(928)**<br>**(2,880)**<br>**(1,937)**<br>**(600)**<br>**(375) **<br>**(223,268)**<br>**(1,003,732)**|Movement<br>in funds<br>£<br>**167,355**<br>**(1,860)**<br>**(9,847)**<br>**(16,689)**<br>**67**<br>**(414)**<br>**1,861**<br>**(4,572)**<br>**(4,320)**<br>**(1,568)**<br>**(928)**<br>**(2,880)**<br>**128**<br>**705**<br>**(375) **<br>**(40,692)**<br>**126,663**|
|---|---|---|---|



Page 28 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


## **16. MOVEMENT IN FUNDS - GROUP - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Street Games Project<br>Co-op foundation<br>Big Local 6<br>Big Lottery STTRM<br>Big Local General Purpose<br>Big Local Winter trails walks<br>Big Local SMBC essential grant<br>Big Local Wellbeing grant<br>Reach Assembly Business Planning<br>Reach HR Consultancy<br>Reach - Internal management costs<br>Reach - Company structure/legal costs<br>Active Wellbeing (stay & play)<br>**TOTAL FUNDS**|At 1.4.20<br>£<br>206,227<br>1,976<br>938<br>55,441<br>17,923<br>7,068<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>83,346<br>289,573|Net<br>movement<br>in funds<br>£<br>126,246<br>-<br>(938)<br>(7,948)<br>31,681<br>-<br>904<br>348<br>4,749<br>4,320<br>1,568<br>928<br>2,880<br>432<br>38,924<br>165,170|At<br>31.3.21<br>£<br>332,473<br>1,976<br>-<br>47,493<br>49,604<br>7,068<br>904<br>348<br>4,749<br>4,320<br>1,568<br>928<br>2,880<br>432<br>122,270<br>454,743|
|---|---|---|---|



Page 29 



## **The Colebridge Trust Ltd** 

## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** 


## **16. MOVEMENT IN FUNDS - GROUP - continued** 

Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>The Field Family Charitable Trust -<br>employment support staff<br>Co-op foundation<br>Big Local 6<br>Big Lottery STTRM<br>Big Local Winter trails walks<br>Big Local SMBC essential grant<br>Big Local Wellbeing grant<br>F Bailey Grant<br>Gostling Foundation<br>Rowlands Trust<br>Archer Trust<br>Reach Assembly Business Planning<br>Reach HR Consultancy<br>Reach - Internal management costs<br>Reach - Company structure/legal costs<br>Active Wellbeing (stay & play)<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>726,777<br>3,438<br>-<br>106,541<br>91,178<br>1,000<br>1,000<br>5,000<br>8,036<br>5,000<br>2,000<br>1,500<br>4,320<br>1,568<br>928<br>2,880<br>432<br>234,821<br>961,598|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(600,531)<br>126,246<br>(3,438)<br>-<br>(938)<br>(938)<br>(114,489)<br>(7,948)<br>(59,497)<br>31,681<br>(96)<br>904<br>(652)<br>348<br>(251)<br>4,749<br>(8,036)<br>-<br>(5,000)<br>-<br>(2,000)<br>-<br>(1,500)<br>-<br>-<br>4,320<br>-<br>1,568<br>-<br>928<br>-<br>2,880<br>-<br>432<br>(195,897)<br>38,924<br>(796,428)<br>165,170|
|---|---|---|



## **17. RELATED PARTY DISCLOSURES - CHARITY** 

## **Colebridge Enterprises Ltd** 

Subsidiary company 

Colebridge Enterprises Ltd is charged during the year for direct costs and management charges totalling £203,481 (2021 £187,913) in respect of staff costs and overheads. All profits in the company are gift aided to the charity. The donation received in the year was £24,731. 

|Amount due from related party at the balance sheet date|**31.3.22**<br>**£**<br>**234,496**|31.3.21<br>£<br>225,495|
|---|---|---|



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